RIO DE JANEIRO--(BUSINESS WIRE)--In Fitch Ratings' view, the implementation of a more realistic tariff to Brazilian end consumers has reduced the liquidity risk for distribution companies in 2015. In addition, a power rationing event is not expected this year due to heavy dispatches of thermal plants and potential energy consumption reduction. This is bolstered by higher energy prices and a challenging macroeconomic scenario. Also, Fitch believes that the current lower dispatch of hydro plants